Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

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Earnings Per Share
 3 Months Ended
Mar. 31, 2012
Earnings Per Share [Abstract]  
Earnings Per Share

11. Earnings Per Share

Basic earnings per share represents net income for the period common shares were outstanding, divided by the weighted average number of common shares outstanding for the period. Diluted earnings per share represents net income divided by the weighted average number of common shares outstanding, inclusive of the effect of dilutive securities such as outstanding stock options, SARs, stock units and warrants.

The following are the common share amounts used to compute the basic and diluted earnings per share for each period:

 

                 
    For the Three Months
Ended March 31, 		 
    2012     2011  
    (in thousands)  

Weighted average shares used in basic computations

     116,191       118,206  

Dilutive effect of exercise of equity grants outstanding

     6,022       7,177  

Dilutive effect of warrants

     160       242  
   

 

 

    

 

 

  

Weighted average shares used in diluted computations

     122,373       125,625  
   

 

 

    

 

 

  

There were an aggregate of 1.8 million and 0.3 million of equity grants that were outstanding during the three months ended March 31, 2012 and 2011, respectively, consisting of stock options, SARs, and stock units, but were not included in the computation of diluted earnings per share because their effect would be anti-dilutive.